k1 error QBI when will we get a fix?

[bobg2]

H&B Turbo Tax for 2 weeks I have been all done with tax's but keep getting error for  K1 box H3 - Previously disallowed QBI losses to be reported as seperate business. 

I have updated the TT software again this morning and still same error.

I am so frustrated and ticked off that we get no updates on this from intuit. When will we get this fixed?

[DawnC]

The QBI issue with Form 1041 K-1 is currently being addressed.  Please check back tomorrow and update the software to e-file your returns.  

[bobg2]

Dawn, Thanks I sure appreciate the update and will be elated if the fix is here Saturday 3/7. Thanks Again

[Daniel_Decker]

I'm having the same problem.  I'm up to date and still can't e-file.  This is frustrating.

[MarkM1]

I am having the same issue.  I cannot enter anything to satisfy the error, can't proceed with e-file.  The field does not apply to my return.  This is almost certainly a TurboTax technical error.

***fix updates?***  I'm trying to file on Sunday 3/8.  There are 7-8 threads of this exact issue.  I'm hopeful that the "tomorrow" mentioned by the TT representative here is Monday.  If not, the issue appears to persist.

[MarkM1]

Hi Dawn - I'm encountering this same error on Sunday 3/8.  I have confirmed that my TurboTax (Premier) is on the latest update.  Can you please confirm if a fix went out this weekend yes/no?

Thanks,
Mark

[bobg2]

I did eventually get it to work.

Got another recommended solution. I had to remove the k1 (there is a way to remove it by going back to k1 entry and delete it or it will come back because of all the linked worksheets). Then close the Turbo Tax and reboot your computer. 

Be sure to note any carry forwards from prior year, it will eliminate all past k1 info you transfer from the prior year.

when you reenter the k1 information it will work. the error was gone.

[jlk1]

Is this the only answer or is TT going to fix it?

[MarkM1]

@bobg2 - hate to say, but no luck for me with that idea. I was able to delete the K-1 plus the associated worksheets, restart computer, manually enter the K-1 back.  Same QBI error, same loop I can't get past.

Holding out hope for a fix.

If not... one can always print off the "forms required for filing" and then re-do it by hand through federal Free-File.  But it's a pain in the neck.  I had to do that for a different issue 4-5 years ago.  (also a nifty trick for state filers that don't want to shell out another $25 to TurboTax, if your state has a decent online "fillable forms" inventory)

[DavidS127]

Please check for updates to your TurboTax that resolve your issue.  TurboTax updates since 3/10/2020 may have resolved your issue.  If you are using TurboTax Download/CD, use the menu at the top (Online>>Check for Updates).

Also, please note that the "separate K-1" portion of the message may relate to a circumstance that requires you to use a separate K-1.  For example, if you check the "active participation" box for box 2, rental real estate, the program assumes that all carryover amounts are active. If you have prior year losses to carry over to the current year that are NOT active, enter the carryover amounts on a separate Schedule K-1 worksheet.  Also, there should not be entries on any two boxes of K-1 boxes 1 through 3, and separate K-1's must be completed for rental activities reported on lines 2 or 3 where at least one of the rental activities is self-rented or land and there are also additional rental activities that are NOT self-rented or land.

@jlk1

@bobg2

[carolyn0129]

I am having the same problem with k1 error on QBI. TurboTax updated this morning, but it isn't fixed. Very frustrating. 

I assume TT is still working on a fix so I can file?

[DavidS127]

More information could help diagnose your issue.  For example, what QBI businesses did you have in your 2018 tax return, without regard to whether you got a QBI deduction for the business in 2018?  For example, if you had a QBI rental property with losses in 2018, you would not have a QBI deduction for that rental in 2018.  But, those passive losses would carry forward to 2019.

[MarkM1]

I got an update today for Premier, listed as 3/12/20 updates.  Error resolved, filed without issue.  Thanks!